Sandoz, a key producer of generics and biosimilars, announced that it has signed an agreement to acquire US biosimilar ranibizumab CIMERLI (ranibizumab-eqrn) from Coherus BioSciences, Inc. For $170 million in cash.
According to the company’s press statement, this is inclusive of a biologics license application, product inventory, ophthalmology sales and field reimbursement talent, as well as access to proprietary commercial software, as per financialexpress.
Keren Haruvi, President Sandoz North America, said: “I am pleased that we can add another
high-value product to the growing Sandoz biosimilar portfolio, further strengthening our existing ophthalmology franchise. The addition of CIMERLI reinforces our commitment to biosimilars and represents a huge step towards our goal of pioneering patient access to more affordable and much-needed medicines in the US.”
Sandoz hopes to offer even more
treatment options to American patients with vision loss and deterioration, he said. The agreement to purchase the CIMERLI business from Coherus will allow us to build a stronger ophthalmic platform to support future product launches, he added.
Closing is expected to occur in the first half of 2024 in accordance with standard terms and conditions, the company announced. At Sandoz, we are very proud to be pioneers in this field. We started the world's first biosimilar product development program in 1996 and were the first company to receive approval for a biosimilar in Europe, Japan, Canada and the United States. To date, we have eight biosimilar products available and many more in development.
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